Why is it in the news?
- The Commerce Minister announced that the UAE and Saudi Arabia had decided to use India as a base to address their food security concerns.
More in the news
As per the official statement,:
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India produces 290 million tonnes of foodgrain and 305 to 310 million tonnes of horticulture.
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So there is huge potential to export and we will be working with the state governments for this.
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Investment in Indian logistics sector is expected from Saudi Arabia, the UAE and 15-20 countries from other parts of the world.
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In the export policy, we have decided to remove all restrictions on organic products and processed products.
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Both the UAE and Saudi want to invest in both organic as well as food processing industries.
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This will be a win-win situation for the UAE, Saudi and other GCC countries but also for us, particularly for our farmers, who want better prices to their produce.
Source
The Hindu.